An Exploratory Review of the Effects of Toxic Mold on Real Estate Values

摘要

This article reports outcomes of ten litigated toxic mold cases; a contingent valuation (CV) analysis of toxic mold in South Carolina; and mold case studies of an apartment complex near Seattle and a group of homes in Cleveland, Ohio. The litigated cases had very large payouts, some larger than the property value. Postcure reductions of 20%-37% In property value were revealed in the CV surveys. The apartment property contaminated with toxic mold had losses In excess of 60% and potentially as high as 100%. A mildly affected group of homes In Cleveland, Ohio, incurred unit remediation costs of 5%-15%.